2015 U.S. Mint Annual Report: Numismatic Sales Down, Bullion Up

The U.S. Mint has released its annual review for 2015, presenting a summary of its activities and revenues for the fiscal year beginning on October 1, 2014 and concluding on September 30, 2015. The report shows that the Mint increased profitability in 2015, despite experiencing a drop in sales of numismatic products. Robust bullion sales countered this setback, however, as did increased revenue from circulating coin sales to the U.S. Treasury.

Revenue generated by the Mint’s numismatic sales dropped 10.2% in 2015 to $453.2 million. The total number of units sold declined as well, dropping 6% to 5.4 million. In his introduction to the annual report, Principal Deputy Director Rhett Jeppson presented a theory on why this occurred, writing, “we believe the decline in revenue and unit sales is primarily driven by the absence of some of last year’s most popular products, such as the Baseball Hall of Fame Commemorative Coins, and the shrinking customer base of numismatic hobbyists.” Earnings on numismatic sales still managed to grow, however, mainly due to an increase in profits from Silver Eagle programs.

Demand for bullion coins saw no such decline; in fact, the 2015 fiscal year was the best ever for the Mint’s bullion program. Overall revenue for investor coins rose 17.2% to $2.1 billion last year, while net income rose 117.9% to $61 million. Gold and Silver bullion sales totaled 49.7 million ounces, 10 million more than in 2014. This discrepancy was due mainly to record-breaking sales for American Eagle Silver bullion coins in the 2015 fiscal year, totaling 47,870,000 ounces.

Circulating coin production hit 16.2 billion coins last year, the most since 2006. The Mint also doubled 2014’s seigniorage total, which considers profits created by keeping production costs for a currency below face value. This allowed the Mint to return $550 million to the Treasury General Fund.

Regarding production costs for circulation coinage, an interesting statistic surfaced concerning Lincoln cents and Jefferson nickels. Both issues have drawn a lot of press for costing more to make than the subsequent values of their denominations, but the Mint has actually made strides toward closing this gap in recent years.

The production and distribution cost for the Lincoln cent is now down to 1.25 cents per coin (from 1.43 cents last year), while the cost of minting a nickel dropped from 6.9 cents to 6.6. Dimes and quarters are getting cheaper to make as well, and their costs remain comfortably beneath the value of their respective denominations. Production and distributions costs for circulating coins are listed on the chart below, provided by the U.S. Mint.

The full 2015 Annual report runs 68 pages long and contains a wealth of fascinating information for anyone interested in combing through it. The complete document can be accessed here.

Coin Update is not a retail website. If you wish to buy a coin or banknote, you should contact a reputable dealer. One of our sponsors (see ads at right and top of page) may also have what you’re looking for, so be sure to check out their websites.

Per policy, we do not advise on the value, authenticity, or rarity of readers’ coins and banknotes. For this kind of assistance, you should contact a reputable dealer, preferably one who’s certified by the American Numismatic Association and/or the Professional Numismatists Guild.

Vulgar and/or abusive comments will not be tolerated. Nor will trolls.

Allegations of fraudulent or criminal activity against a named party, when said activity has not been proven in a court of law, will be removed.

I agree with Ed D. In my case, I have been buying silver and gold bullion as close to spot as I can. Silver is particularly a buying opportunity right now. When the market riggers are brought down, we will have true price discovery and precious metals will zoom upwards.

I did buy the 2015 new design gold coin as it will have both PM and collector value.

Categories

More Recent Articles

Platinum coins rank among the greatest and most sought-after rarities of Russian numismatics. In their upcoming Berlin auction, auction house Künker will offer a complete set of said rarities of exceptional condition, which once belonged to Georgy Mikhailovich, arguably the most famous collector of Russian coins. On January 31, 2019, auction house Künker will hold […]

The Central Bank of Sri Lanka has unveiled (27th November) a new series of circulation coins with the face value of 10, five, two, and one rupee. The bank’s objectives for the production and issue of the new coins is aimed at reducing the cost of coin production, increasing the durability of coins, easing transport, […]

The coins will be released in January to celebrate the 50th anniversary of the moon landing. David J. Camire, NCS president and NGC finalizer, was among the dignitaries to attend the “First Strike” ceremony for the 2019 Apollo 11 commemorative coins. The ceremony was held at the U.S. Mint in Philadelphia on December 13, 2018. […]

Thomas “Tom” J. Uram has recently been appointed by Secretary of the Treasury Steven Mnuchin to succeed Mary N. Lannin as chair of the Citizens Coinage Advisory Committee (CCAC) for a term of one year. Lannin will continue to serve as an active member of the CCAC. Uram has been a committee member of the […]

On December 1, 2018, Gijsbertus Willem de Wit passed away. He was first and foremost known to numismatists because of his extensive collection of medieval coins, which was sold in three parts by the auction house Künker in 2007-2008. According to Bernd Kluge and his work on medieval numismatics, it is regarded as “the most […]

Tomorrow (December 18), the United States Mint releases the 2019 Year of the Pig $1 Federal Reserve note (B15050) at 12 noon (ET). 2019 is the Year of the Pig according to the Chinese zodiac, and the Mint’s 2019 $1 Uncirculated Federal Reserve note is contained within a decorative folder which emphasizes the occasion. The […]

This U.S. Mint numismatic sales report covers the week ending December 9, 2018. The Mint’s best-selling product this week was the 2018 U.S. Mint Proof Set (18RG), which sold 17,210 units. In second place was the 2018 U.S. Mint Silver Proof Set (18RH), which sold 9,224 units and was released on November 27. The third best-selling […]

The East India Company Bullion, in cooperation with the government and treasury of St. Helena, have issued (22nd November) a new Proof-quality gold coin collection, including some of the world’s most significant coins which opened new routes of trade and shaped international commerce. Following on the great success of the first “Empire Collection” gold coin set issued […]

15-year initiative celebrates the Nation’s significant innovations and pioneering spirit Washington — The United States Mint hosted a ribbon cutting ceremony today to kick off the American Innovation $1 Coin Program, a multi-year initiative honoring innovators and innovations from each state, the District of Columbia and five U.S. territories — Puerto Rico, Guam, American Samoa, […]

Description of the Coin The blank in the shape of a gecko bears a round collector’s mark on the obverse with the coat of arms of Palau, above REPUBLIC OF PALAU, below 5 $, and in the field to the left Gecko, 1 oz • Ag .999, 2018. The reverse is designed as a three-dimensional gecko. Background After […]